ASXIOU, was told today it was mainly new institutions getting in...

ASXIOU, was told today it was mainly new institutions getting in on the placement as opposed to existing ones. Apparently there is a good appetite for AZX but as the shares have been pretty tightly held, to obtain a reasonable parcel without taking out several lines is near impossible - hence new instos found the placement the perfect stealthy entry.

Unfortuately or fortunately for existing holders, they didnt get exactly what they wanted due to the massive oversubscription so they will either have to enter now on market or wait until the next placement. Also average sophisticated investor allocation was only around 20% of what they bid for.

SLE